Jokowi gives foreign miners a glimmer of hope

There are signs the incoming Indonesian government will work more closely with foreign groups who have been hit hard by taxes on mineral exports.

When Joko “Jokowi” Widodo, president-elect of Indonesia, takes office on October 20, foreign investors will be paying attention to one policy issue above all others.

The punitive taxes levied on miners’ mineral exports by the outgoing government have hit foreign groups hardest especially US firms Freeport-McMoRan and Newmont Mining leading to pit closures, the threat of massive job cuts and paralysed shipments.